SOURCE: Fittipaldi Logistics, Inc.

April 17, 2007 09:30 ET

Fittipaldi Logistics, Inc. Signs Agreement With QUALCOMM for Mobile Data Interchange

Agreement Enables Use of Vehicle Location Data for Joint Customers Who Need Total Asset Visibility, Vehicle Tracking and Freight Matching

BOCA RATON, FL -- (MARKET WIRE) -- April 17, 2007 -- Fittipaldi Logistics, Inc. (OTCBB: FPLD), the market leader in software development focusing on the freight transportation industry, today announced it has signed an agreement for mobile data interchange with QUALCOMM, a leading provider of business-to-business wireless enterprise applications and services.

The agreement enables Fittipaldi Logistics to access and integrate specific joint-customer data, generated by QUALCOMM's OmniTRACS® mobile communications system, into EMMOLOGIC, Fittipaldi's proprietary software application. Access to this data enables joint customers of Fittipaldi and QUALCOMM, such as Averitt Express, to disseminate load and available truck information through a variety of data exchanges and interfaces. This information will greatly enhance asset utilization and fleet management capabilities for joint customers.

Fittipaldi Logistics focuses on delivering high-quality, Application Service Provider (ASP)-based software solutions to the freight transportation industry in the U.S. and international markets. With this new agreement with QUALCOMM, joint customers can post available assets and loads for near-real-time information using Fittipaldi's EMMOLOGIC software to manage, solicit and provide reporting for carrier organizations. Fittipaldi Logistics will host and manage the on-demand, web-based application on dedicated servers offering a high-availability, guaranteed bandwidth to ensure 24/7 reliability of information access and communications.

"We are very excited about this development in our relationship with QUALCOMM," said Kevin Yates, COO of Fittipaldi Logistics. "It will enable us to expand the scope of our advanced technologies and services that support our mission of providing supply chain solutions and unsurpassed service to the transportation industry."

About Fittipaldi Logistics, Inc.

Fittipaldi Logistics, Inc. is a technology company that specializes in providing pertinent, real-time information to the worldwide transportation and security industries. Our telematics solutions collect vehicle and container-based data and integrate it with information gathered from various disparate legacy systems across the supply chain. The data is then synthesized and reformatted into valuable, actionable information, and delivered to appropriate end-users across the logistics value chain through secure web-based applications. Specific offerings include: vehicle tracking, inventory/asset visibility, secure trucking, matching available freight with available trucks, and many others.

This press release includes certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such forward-looking statements include, but are not limited to, statements regarding our current business plans, strategies and objectives that involve risks and uncertainties that could cause actual results to differ materially from anticipated results. The forward-looking statements are based on our current expectations and what we believe are reasonable assumptions; however, our actual performance, results and achievements could differ materially from those expressed in, or implied by, these forward-looking statements. Factors, within and beyond our control, that could cause or contribute to such differences include, among others, the following: we have a history of losses and an accumulated deficit, expect losses to continue for the foreseeable future and will need to raise additional working capital in order to implement our business model and sustain our operations; the loss of one or more of our major customers could materially and adversely effect our future revenue and business operations; as well as those factors discussed under "Risk Factors" in our Annual Report on form 10-KSB filed on October 13, 2006 and various disclosures in other reports filed from time to time with the United States Securities and Exchange Commission.

Contact Information

  • Fittipaldi Logistics Contact Information:
    Fittipaldi Logistics' Corporate Investor Relations
    (866) 998-7557 x 301